Daily Morning Report – 11/11/2026

Date 11.11.2026

Technical Summary Nifty CMP 25044.65

As discussed yesterday market behaviour remained on the expected lines during the day, as Nifty opened right at our designated breakout level of 25,076 but failed to surpass it, subsequently slipping to an intraday low of 24,838.75. However, a sharp recovery from lower levels helped the index bounce back to close the day resiliently at 25,044.65.

Further, a bearish hanging man candlestick pattern has appeared on the daily chart of Nifty after a prolonged rally near a key resistance level, suggesting a distinct slowdown in buying pressure and an interruption to the prevailing uptrend. This formation represents an early attempt by sellers to take control of the Nifty. Consequently, a decisive breakdown below 24959 could see selling pressure aggravate, potentially drifting Nifty down toward the 24873 to 24787 support zone. Should the intensity of the selling pressure amplify further, Nifty may witness an extended slide down to the 24702 mark.

Alternatively, this candle could also indicate a temporary pause in the uptrend before a further up move, as the underlying market structure remains inherently strong with a continuation of the broader positive trend. Consequently, if Nifty successfully takes out the key resistance at 25130, it is poised to rally further toward the 25216 to 25303 zone. Furthermore, stronger demand and sustained bullish momentum at higher levels could push the index even further toward the 25387 mark.

Bank nifty:

• Bank Nifty closed at 59,741.25 on 9
• Immediate resistance: 59,978
• Higher resistance: 60,150
• Immediate support: 59,500
• Major support: 57,600

3.  Pivot Levels:

Classic pivot levels calculated from 09 November 2026 OHLC data.

4.  FII / DII Activity

• FII Net buyer 7,212.22cr
• DII Net seller 7,172.53 cr
• Continued FII buying could support further upside in benchmark indices, particularly banking and heavyweight stocks.

5.  International Cues

• US Market: US equity markets closed lower on 10 November following stronger-than-expected inflation data.
• US Inflation: October CPI increased 4% month-on-month against expectations of 0.3%. Core CPI increased 0.3%, above the expected 0.2%.
• Federal Reserve: Higher inflation has increased expectations of a more aggressive Fed interest-rate stance, potentially affecting global liquidity and equity valuations.
• Crude oil: Brent crude settled around $91.49 per barrel on 10 November, with oil prices remaining an important factor for India’s inflation and current-account outlook.

Overall View

The Indian market structure remains positive, supported by strong FII buying and the recent recovery in banking stocks. However, higher US inflation, rising bond yields and dollar strength remain external risks. The market may witness a positive opening followed by consolidation. Sustaining above the important resistance levels will be essential for further upside.

By ASHOK BHANARI | SEBI REGISTERED REASERCH ANALYST | REG. INH000019594